FFastFill partners with New York Portfolio Clearing

First Published 16th March 2012

FFastFill powers NYPC PRIME™ VaR margin calculator

Hamish Purdey, CEO, FFastFill

"NYPC PRIME™ builds on FFastFill's expertise in risk management across all areas of the trade flow."

FFastFill, the provider of Software as a Service ("SaaS") to the
derivatives community, has announced that it is partnering with
New York Portfolio Clearing, LLC ("NYPC"), the clearing platform
for fixed income derivatives, to provide the technology, hosting
and support for the NYPC PRIME™ Portfolio Risk Interactive
Margin Estimator.

FFastFill will deliver the NYPC Value-at-Risk ("VaR") calculator
that estimates the "one-pot" margin savings that clearing members
can achieve for proprietary interest rate futures cleared at
NYPC. FFastFill will also deliver certain cash positions cleared
at the Fixed Income Clearing Corporation ("FICC") subsidiary of
The Depository Trust & Clearing Corporation ("DTCC"), as a
SaaS solution from its network of managed data centres.

Hamish Purdey, CEO of FFastFill said: "We are pleased to have
been selected by NYPC to deliver the PRIME™ service as a
SaaS solution. NYPC PRIME™ builds on FFastFill's expertise
in risk management across all areas of the trade flow and allows
us to deliver this innovative technology to a growing market."

Ira Krulik, Chief Operating Officer, NYPC said: "Working with
FFastFill has allowed us to deliver a highly functional tool in a
short period of time. We were impressed with the turnaround time
and quality of the delivery, and we look forward to working with
FFastFill to provide a highly reliable VaR platform for our
customers."